Geode Capital Management LLC Acquires 279,459 Shares of Kodiak Gas Services, Inc. (NYSE:KGS)

Geode Capital Management LLC lifted its stake in Kodiak Gas Services, Inc. (NYSE:KGS - Free Report) by 51.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 827,274 shares of the company's stock after buying an additional 279,459 shares during the period. Geode Capital Management LLC owned approximately 0.94% of Kodiak Gas Services worth $33,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Alliancebernstein L.P. boosted its position in shares of Kodiak Gas Services by 168.3% during the 4th quarter. Alliancebernstein L.P. now owns 346,462 shares of the company's stock worth $14,146,000 after acquiring an additional 217,322 shares in the last quarter. Ramirez Asset Management Inc. acquired a new stake in shares of Kodiak Gas Services in the 4th quarter valued at $650,000. Pictet Asset Management Holding SA acquired a new stake in shares of Kodiak Gas Services in the 4th quarter valued at $233,000. Duff & Phelps Investment Management Co. increased its stake in shares of Kodiak Gas Services by 911.4% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 283,204 shares of the company's stock valued at $11,563,000 after purchasing an additional 255,204 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Kodiak Gas Services during the 4th quarter worth $766,000. 24.95% of the stock is owned by institutional investors and hedge funds.

Kodiak Gas Services Trading Up 1.2 %

Shares of KGS traded up $0.40 during trading hours on Tuesday, hitting $33.21. 462,885 shares of the stock were exchanged, compared to its average volume of 788,699. The firm has a market capitalization of $2.95 billion, a P/E ratio of 114.53 and a beta of 1.52. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.27 and a quick ratio of 0.93. Kodiak Gas Services, Inc. has a fifty-two week low of $24.84 and a fifty-two week high of $50.43. The business has a 50-day moving average of $37.43 and a 200-day moving average of $38.92.

Kodiak Gas Services (NYSE:KGS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.15). Kodiak Gas Services had a return on equity of 7.91% and a net margin of 2.23%. The business had revenue of $309.52 million during the quarter, compared to the consensus estimate of $323.82 million. On average, research analysts expect that Kodiak Gas Services, Inc. will post 1.12 EPS for the current year.

Kodiak Gas Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Friday, February 14th. Kodiak Gas Services's payout ratio is 277.97%.

Insider Transactions at Kodiak Gas Services

In other news, major shareholder Frontier Topco Partnership, L. sold 3,728,677 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $47.50, for a total transaction of $177,112,157.50. Following the transaction, the insider now owns 34,771,323 shares in the company, valued at approximately $1,651,637,842.50. This represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KGS shares. Royal Bank of Canada set a $45.00 target price on Kodiak Gas Services and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Raymond James reaffirmed an "outperform" rating on shares of Kodiak Gas Services in a report on Friday, March 7th. Barclays dropped their price objective on shares of Kodiak Gas Services from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Citigroup boosted their target price on shares of Kodiak Gas Services from $41.00 to $48.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, Mizuho increased their price target on Kodiak Gas Services from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Kodiak Gas Services has an average rating of "Moderate Buy" and a consensus price target of $41.45.

Kodiak Gas Services Profile

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil.